Shanghai-headquartered biopharmaceutical firm Wuxi PharmaTech has taken the first step to relist its biologics unit in Hong Kong after filing a listing application with the city’s stock exchange this week.

The plan to list Wuxi Biologics emerged little more than a year after China’s largest contract research organisation delisted from the New York Stock Exchange in December 2015, following a $3.3 billion buyout by a consortium that included company founder Ge Li.

Wuxi BioLogics' listing could be worth as much as $1.5 billion, according to several sources. But given the long lead time before the deal launches, that number could change....

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